(19 Action News) South Carolina State University cleared its first hurdle in its efforts to secure a $12 million loan from the state to help shore up the university’s finances.
The House Joint Bond Review Committee voted in favor of helping the university during a meeting Wednesday afternoon.
A Blue Ribbon Review Panel recommended the state give SCSU a $12 million loan. This proposed loan follows a $6 million loan the historically black public university received in April.
“I suspect there will be conversations about the merits of doing that,” said state Rep. Gilda Cobb-Hunter, a Democrat from Orangeburg. Cobb-Hunter sits on the committee as does Republican Rep. Chip Limehouse, who has brought up the idea of University of South Carolina absorbing SCSU.
“I’ve not heard anybody else who shares that view.” Cobb-Hunter said. “I want to assure Bulldog Nation that that ain’t going to happen.”
South Carolina State University asked for financial assistance from the state after the university announced in April it had only enough money to function for a few months. SC State President Thomas Elzey says the loan is what the school needs to pay back its vendors. Read full 19Action News
